Academy award-winning actor Michael Douglas is no stranger to the world of real estate investment and development. The actor began his real estate sideline at the age of 21. With the first money he ever made by working on his father’s movies in the year 1966, he purchased 70 acres of raw land in Vermont, which he still owns. Unlike many celebrities house flippers, Michael Douglas holds on to his properties for decades.
At the age of 74, Michael Douglas and his wife – Catherine Zeta-Jones (also an Academy award-winner) have been spending their time between their homes in Bermuda and New York. They rarely have the opportunity to visit S’Estaca – their Mediterranean estate on the Spanish Island of Majorca. Douglas has owned this property for over 30 years now.
Majorca has been the place for celebrities to be seen every since Chopin spent his winters there in the year 1838. In Hollywood’s heydays, Elizabeth Taylor and Audrey Hepburn vacationed at Hotel Formentor. Prince Rainier and Grace Kelly spent their honeymoon here. In recent times, Harrison Ford, Gwyneth Paltrow, and Noel Gallagher were seen checking out the day’s catch in the local fish market. Over the years, Michael Douglas had hosted many Hollywood friends at his Mediterranean estate.
S’Estaca is filled with romantic history, and is completely private on its 200 acres spanning the mountains to the sea. This Mediterranean estate was initially purchased by Archduke Ludwig Salvator of Habsburg in the year 1867. Here, he could hide his paramours away from the prying eyes, and would transport them to the island via his stream-yacht – the Nixe. Michael Douglas bought this estate in the year 1990, and upgraded the seven separate buildings and grounds by investing millions into the property. This stunning Mediterranean estate is a total of 10,764-square-feet of living space. There are 10 bedrooms and 10 baths, which are modernised to suit today’s luxury standards. The estate also houses large formal rooms, a library, a gym, a multimedia room, a master suite with a fireplace, a terrace, and a breathtaking view of the sea.
The exceptional grounds of the estate overlook the sea and have a swimming pool, ancient olive trees, vineyard, terraces, and a Moorish pavilion. S’Estaca also has a huge wine cellar that contains casks and bottles stored for wines, which have been produced on the property itself. With the estate abutting the port of S’Estaca, it also has a private pier and dock for the yachts.
Douglas and his wife are selling their beautiful Majorca estate, which is at the edge of the Mediterranean, surrounded by about 200 acres of privacy in the midst of mountainside woodland. This estate is priced at a massive $32.7 million. The listing agent for this property is Eddy Barrera of Engel Voelkers, Majorca Westcoast.
– Zainab with inputs from toptenrealestatedeals.com